Pakistan pitches strategic minerals to global investors
Barrick Mining's chairman said the company intends to be a long-term partner with Pakistan on the Reko Diq project.
Pakistan is focusing on minerals of strategic importance to global investors, Petroleum Minister Ali Pervaiz Malik said on Friday at the Pakistan Minerals Investment Forum in Islamabad, the state broadcaster Radio Pakistan reported.
Malik said the government is backing these efforts with modern geochemical and geophysical surveys, and is building expertise in digital mapping, airborne surveys and mineral assessment.
He said the Geological Survey of Pakistan is strengthening the scientific base of the mineral sector.
The government wants every company to have access to uniform fiscal terms without needing special arrangements, Malik said.
He said the aim is to offer terms that are attractive and fair to investors, the provinces and the federal government.
Malik said the government is committed to providing security for mine sites, logistics and trained manpower, and that special arrangements have been made to strengthen the security framework for uninterrupted mining operations.
He also referred to recently issued licenses for mineral exploration in the Chaghi and Khuzdar districts of Balochistan.
John Thornton, chairman of Barrick Mining Corporation, said Reko Diq is a partnership among Pakistan, Barrick, local communities and international investors to develop one of the world's major mineral resources.
Thornton said the leadership of Pakistan is making a difference through forward-looking policies and international partnerships, and that the company intends to be a long-term partner.
Pakistan has been seeking foreign investment in its mining sector as it looks to tap its mineral wealth, and Reko Diq, a copper and gold project in Balochistan, is among the largest projects in that effort.
